PENGARUH STRUKTUR KEPEMILIKAN DAN KINERJA KEUANGAN TERHADAP KEBIJAKAN BUYBACK (STUDI EMPIRIS PADA 40 PERUSAHAAN LIKUIDITAS TINGGI YANG MELAKUKAN PEMBELIAN KEMBALI SAHAM TAHUN 2015-2020)

ABSTRACT
 
 The problem in this study is the uncertainty of buying back shares when company's capital structure increases or decreases. This aims to explain effect institutional ownership, managerial leverage, free cash flow, and Return On Assets (ROA) partially simultaneously on buyback policy, how much dependent variable can be explained by independent variable.
 research a quantitative research. data used secondary form financial statements company annual reports. population were all companies listed LQ45 index for 2015-2020 period with sample 40 determined purposive sampling technique. Data analysis multiple linear regression SPSS 16 software.
 results showed that variables leverage had no significant policy. Free flow has positive Asset negative together have coefficient determination test show 70.6 percent (%) variable.